West Family Investments Inc. Sells 163 Shares of Eaton Corporation, PLC (NYSE:ETN)

West Family Investments Inc. reduced its position in shares of Eaton Corporation, PLC (NYSE:ETN) by 9.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,658 shares of the industrial products company’s stock after selling 163 shares during the period. West Family Investments Inc.’s holdings in Eaton were worth $451,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Capital A Wealth Management LLC bought a new stake in shares of Eaton during the 4th quarter worth $26,000. Flagship Wealth Advisors LLC bought a new stake in Eaton in the 4th quarter valued at $27,000. Murphy & Mullick Capital Management Corp bought a new stake in Eaton in the 4th quarter valued at $33,000. Vermillion Wealth Management Inc. bought a new stake in Eaton in the 4th quarter valued at $33,000. Finally, Creative Financial Designs Inc. ADV boosted its holdings in Eaton by 102.0% in the 1st quarter. Creative Financial Designs Inc. ADV now owns 101 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 51 shares during the period. 82.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ETN has been the subject of a number of research reports. BNP Paribas initiated coverage on shares of Eaton in a report on Thursday, May 15th. They issued an “outperform” rating and a $380.00 price target for the company. JPMorgan Chase & Co. increased their price target on shares of Eaton from $300.00 to $360.00 and gave the company an “overweight” rating in a report on Friday, May 16th. Citigroup increased their price target on shares of Eaton from $351.00 to $420.00 and gave the company a “buy” rating in a report on Monday. The Goldman Sachs Group increased their price target on shares of Eaton from $345.00 to $382.00 and gave the company a “buy” rating in a report on Tuesday, July 8th. Finally, Sanford C. Bernstein reissued an “outperform” rating and issued a $396.00 price target on shares of Eaton in a report on Monday. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $375.00.

Eaton Trading Down 0.1%

Shares of Eaton stock opened at $360.32 on Tuesday. The stock has a market capitalization of $140.99 billion, a P/E ratio of 36.36, a price-to-earnings-growth ratio of 2.72 and a beta of 1.17. The company has a quick ratio of 0.84, a current ratio of 1.31 and a debt-to-equity ratio of 0.41. The company has a 50-day simple moving average of $333.96 and a 200 day simple moving average of $313.47. Eaton Corporation, PLC has a 12-month low of $231.85 and a 12-month high of $379.99.

Eaton (NYSE:ETN) last posted its quarterly earnings data on Friday, May 2nd. The industrial products company reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.70 by $0.02. The firm had revenue of $6.38 billion during the quarter, compared to analysts’ expectations of $6.26 billion. Eaton had a net margin of 15.55% and a return on equity of 23.41%. The company’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the company posted $2.40 EPS. Research analysts expect that Eaton Corporation, PLC will post 12.02 earnings per share for the current fiscal year.

Eaton Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Monday, May 5th were given a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend was Monday, May 5th. Eaton’s payout ratio is presently 41.98%.

Insider Activity

In other Eaton news, insider Craig Arnold sold 103,486 shares of the firm’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $322.75, for a total value of $33,400,106.50. Following the completion of the sale, the insider owned 490,208 shares in the company, valued at approximately $158,214,632. This trade represents a 17.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael Yelton sold 2,120 shares of the firm’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $296.87, for a total transaction of $629,364.40. Following the completion of the sale, the insider owned 3,382 shares of the company’s stock, valued at $1,004,014.34. The trade was a 38.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 156,660 shares of company stock valued at $49,622,894 in the last 90 days. Corporate insiders own 0.30% of the company’s stock.

About Eaton

Eaton Corporation plc operates as a power management company worldwide. The company’s Electrical Americas and Electrical Global segment provides electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality and connectivity products, wiring devices, circuit protection products, utility power distribution products, power reliability equipment, and services, as well as hazardous duty electrical equipment, emergency lighting, fire detection, explosion-proof instrumentation, and structural support systems.